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Goldman Sachs boss says working from home is not the 'new normal'

Goldman Sachs boss says working from home is not the 'new normal'

Goldman Sachs boss David Solomon has labelled the work from home phenomenen as an "aberration" as he softens up staff for a return to office life.

The Wall Street giant has operated throughout the course of the pandemic with fyully 90% of its staff working from home.

Speaking at a conference, Solomon rejected the notion that remote working would become the new normal, stressing that it did not suit the work culture at Goldman Sachs.

“I do think for a business like ours, which is an innovative, collaborative apprenticeship culture, this is not ideal for us," he says. "And it’s not a new normal. It’s an aberration that we’re going to correct as soon as possible.”

Goldman this summer will welcome 3000 new recruits to the business as part of its annual graduate intake. “I am very focused on the fact that I don’t want another class of young people arriving at Goldman Sachs in the summer remotely,” Solomon says.

His views are at odds with many other financial services firms, which see the remote work culture as an opportunity to work smarter and shred costs by cutting real estate.

Comments: (3)

A Finextra member
A Finextra member 26 February, 2021, 09:33Be the first to give this comment the thumbs up 0 likes

A very non-progressve view from GS, as most would agree that all forms of working need to co-exist for the betterment of customers, employees, collaboration partners, etc. Nothing in its own right is ever an "aberration". Shame as I normally have a lot of respect for D-Sol....

Francesca G
Francesca G - Medium - London 26 February, 2021, 21:27Be the first to give this comment the thumbs up 0 likes

It is understandable some companies do need the interaction between employees maybe the word aberration was just a bit too strong to describe it. A mix between working from home and at the office would be the ideal really.

Like you mentioned "all forms of working need to coexist" - couldn't agree more.

A Finextra member
A Finextra member 07 April, 2021, 15:52Be the first to give this comment the thumbs up 0 likes

I do hope this is not the case of CEOs feeling that they lose some of the power and aura unless they have the bulk of workers working under them in the lower floors :)

 

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